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Yes, obviously the program needs to be revenue neutral for middle incomes, otherwise it is unaffordable. So for the average bloke in the UK who earns £30k and r
by MagnumOpus 11y ago
Yes, obviously the program needs to be revenue neutral for middle incomes, otherwise it is unaffordable. So for the average bloke in the UK who earns £30k and receives a £6.6k UBI in addition, taxes would have to be increased by 22 percentage points to balance.
So rather than 0%-20%-40% income tax bands, we are talking about 20%-40%-60% tax - which looks ridiculously high on the face of it, but has no effect on after-tax income of the average earner after the UBI.
Because of the shocking sticker effect of the taxes, my view is that it is a lot better to position UBI as "negative income tax for low earners" if you want to get it adopted...